Facing declining revenue and increasing competition, the New York City-based handbag and accessories retailer outlined a plan to shutter 20 percent of its North American stores, update other stores and realign inventory levels.

Coach (NYSE:COH) did not specify which locations it will shut down.

The company has stores at International Plaza in Tampa, Westfield Brandon, Westfield Countryside Mall in Clearwater, the Shops at Wiregrass in Wesley Chapel and Westfield Southgate Mall in Sarasota.